The offseason has proven tumultuous for the Cincinnati Bengals' star wide receiver Tee Higgins, who is set to play out the 2024 NFL season under the franchise tag. Despite months of contract negotiations, the Bengals and Higgins could not come to terms on a long-term extension before Monday's deadline. As a result, Higgins will remain with Cincinnati, earning a fully guaranteed $21.8 million for the upcoming season.
Contract Stalemate
Higgins' future with the Bengals has been a topic of intense speculation. It was broadly assumed he would be a top target for Joe Burrow, the newly minted highest-paid player in the NFL, for years to come. Burrow, who received a five-year, $275 million extension, now faces uncertainty regarding his key receiving threat. The fact that Higgins requested a trade back in March adds another layer of complexity to the situation. However, the Bengals chose not to honor his trade request, forcing Higgins to play under the franchise tag.
Financial Landscape
As the Bengals solidify their commitment to Burrow, Higgins finds himself at an impasse. This situation brings the NFL's financial landscape into sharper focus. The New York Jets, for instance, have $6.254 million in cap space, which limits their ability to bid for a talent like Higgins without some creative accounting. “The New York Jets don't have a ton of cap space left to play with for this season, but they could get creative in their accounting for a Higgins extension by providing him with a massive signing bonus and backloading his contract to defer larger cap hits to future years,” one source suggested.
Other teams like the Washington Commanders and the New England Patriots are in a more favorable cap situation, with $37 million and $43.763 million, respectively. Nonetheless, whether these teams would be willing to part ways with significant draft capital and offer a lucrative contract extension remains to be seen. Comparatively, the Los Angeles Chargers, who have $20.656 million in cap space this season and are projected to have nearly $43 million in 2025, might be in a better position to negotiate for Higgins should he become available.
Higgins’ Value
The market for receivers has never been more competitive, and the value of trading for Higgins has been a point of debate among analysts. As noted, "A trade and contract for Higgins will most certainly cost less than trading for Adams." Such considerations could make Higgins an appealing target for teams looking to bolster their receiving corps without the hefty price tag associated with premier talents like Adams.
Looking Forward
Despite the unresolved contract issues, Higgins' immediate focus will be on the football field. He is expected to report to training camp when veterans convene on July 23. As the season progresses, the dynamics between him and Burrow will be closely scrutinized, especially considering Higgins' importance to the Bengals' offensive scheme.
This summer's developments serve as a testament to the intricate dance of contract negotiations and the high stakes involved for both player and team. With the 2024 season on the horizon, the spotlight will be firmly on Higgins and the Bengals, as both sides navigate through what promises to be a season fraught with both potential and uncertainty.